Waqf or its plural awqaf is an Islamic instrument of wealth distribution that if properly structured and administered can provide perpetuate benefit to the entire society. Invariably, the historical significance of waqf in Islamic history cannot be overemphasised albeit the instrument was used to provide everything to the society from hospitals, schools, roads, bridges, orphanage shelters, and others.
In a hadith narrated by Abu Huraira, the Prophet (peace be upon him) says: When a man dies, his acts come to an end, but three; recurring charity or knowledge (by which people benefit), or a pious offspring who pays for him. (reported by Muslim 1992, Chapter 3, hadith 14). Indeed this hadith had providedthe underlying principle for the body of knowledge waqf, which has then evolved for centuries.
The “recurring charity” refereed in this hadith can be attributed to waqf, whereby the single act of creating and establishing waqf will lead to the recurring charity that benefits the needy and the society, and if the waqf is properly structured, the benefits can even last in perpetuity. Despite the evolution and the richness of the body of knowledge, waqf matters can be rather technical both in term of its legality as well as the Shariah aspects. Perhaps, this is could be the obstacles of why many Muslims today are unable to perform this great deed.
From the Islamic worldviews, the objective of establishing a waqf is solely to achieve al-falah i.e. being successful in this world and in the hereafter. Meaning which, the instrument is underpinned by one’s faithful believe that there is another life after one’s death. Therefore, the will be recurring reward for the recurring charity, even after the person had passed away.
Through a waqf, a Muslim can achieve a recurring charity. Whereby, the benefits of the act flow to the needy repeatedly. However, contrary to what some people may understood, waqf is not a mere religious instrument, which provide benefit in term of performing religious rituals alone. In fact, waqf, as historical proven, is a vital public finance instrument that can be used in providing public goods for the people, and is capable of contributing towards economic growth and development. It had provided benefits in term of economic, commerce, education, health, social and spiritual dimensions.
From macroeconomic perspective, waqf can be looked upon as a savings-investment mechanism where surplus resources, are diverted from being consume by the owner and to be invested in productive assets with a perpetual benefits that can be consume by the society. This function would enable waqf not only to serve as philanthropic or religious objectives, but also to unlock its economic viability.
In this modern era, we may now be able to diversify the sources of waqf. We may not confine to waqf of landed property or cash donations, but we can also be used other assets that yield income as such proceeds from intellectual property (IP) rights or royalty payments. This will pave the way for many talented Muslims in our society, be it in science, technology, arts, or literature, to participate together in establishing and promoting the waqf in this country. A facilitative structure and Shariah-compliant guidelines should be developed and put in place so that we can benefit immensely from the waqf of intellectual property rights or royalties.
Nonetheless, waqf is only a voluntary charity or donation from the donors, be it from an individual or group. Inevitably, today’s society may overlook wealth as being a divine sustenance to help those in need. The belief that wealth is a divine blessing that leads to the establishment of many awqaf to support the needy which had been practised by the society of the past centuries, may have is now been overtaken by a widespread desire for personal consumption and luxurious living.
Nevertheless, the tradition of our society, which is imbued with sense of kindness and generosity, provides a huge comfort to our hearts. Given the right guidance, information and knowledge, both in term of the legal and Shariah aspects, our society would be keen to establish waqf, that in turn, will allow for the creation of sustainable and perpetual benefits not only for the Muslims community but also for the entire nation.
